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HNB Assurance Group completes impressive third quarter with 21% growth in GWP.

HNB Assurance PLC (HNBA) and its wholly owned subsidiary HNB General Insurance Limited (HNBGI) ended the third quarter with the Group figures indicating a Profit After Tax (PAT) of Rs. 583 Mn. In terms of Gross Written Premium (GWP), the Group recorded Rs. 13.6 Bn growing by an impressive 21% compared to the previous year. HNBA exhibited exceptional growth during the period by achieving a growth rate twice that of the industry average, while HNB General Insurance Limited (HNBGI) also demonstrated a robust performance, growing at a staggering five times the industry average.
Rose Cooray, Chairperson of HNBA and HNBGI said: “I’m extremely delighted by the outstanding performance exhibited by HNB Assurance Group during the third quarter. Our consistent growth is a clear indication that HNB Assurance as a group is in the forefront of providing exceptional services and adapting to the ever-changing demands of our clientele.
Amidst the slow recovery of Sri Lanka’s economy following a period of significant challenges, both HNB Assurance and HNB General Insurance undertook strategic measures to fortify their operations, which involved equipping themselves with enhanced capabilities, innovative strategies and resilient frameworks to navigate the economic fluctuations and effectively cater to the market. In terms of the performance the group GWP grew by 21% compared to the same period last year. While the Group Assets surpassed the Rs. 48 Bn mark to reach Rs. 48.42 Bn with a growth of 18%. Over the last 10 months, the total equity along with the life fund notably surged, reaching a significant milestone of Rs. 9.1 Bn and Rs. 30 Bn, representing a remarkable increase of 17% and 24% respectively.”
Lasitha Wimalaratne, CEO of HNBA said: “Our strategic focus of enhancing and improving our distribution channels has yielded tremendous results, notably reflected in our impressive 19% growth in GWP to reach Rs. 7.8 Bn, which is almost double the growth rate of the industry and the highest amongst the top tier players, also, the 26% increase in new business premiums compared to the previous year.
In addition to our steady and sustainable growth, winning the ‘Best Distribution Initiative’ award, recognized by Insurance Asia, was extremely heartening as it validated our efforts and well-rounded strategy. While we are happy about the progress made, I believe it’s crucial to sustain it and finish the year on a high. Our team is motivated just to do that and with the surplus transfer from the life fund yet to take place, our collective aim is to close the year strong, ensuring substantial benefits for our shareholders.”
Sithumina Jayasundara, CEO of HNB General Insurance, said: “We have been investing heavily in revamping our core systems and building a solid digital platform, setting us up for the future. These changes are all about making things better for our customers and equipping ourselves for the long run. I’m extremely delighted to see these efforts paying off as we have seen a steady growth in our GWP of 24% when compared to last year, which in comparison to the current industry growth rate reflects a 5-time increase.
Diving further into the numbers, our Non-Motor sector saw a 58% growth compared to the industry’s 12%, while our Motor portfolio grew by 6% despite the industry’s negative growth of 1.3%. I must convey my sincere appreciation to all the sales and other support teams for their efforts and hard work, ensuring that we continue to make remarkable progress as an organization. Additionally, we were also recognized as the ‘Most Customer-Centric General Insurance Brand’ in the country, which is extremely big for us because it shows our commitment to putting customers first. Further, we were recognized with a Bronze Award at the CNCI Achiever Awards 2023, which is yet another validation of our efforts and innovation within the industry.”
News
Bid to include genocide allegation against Sri Lanka in Canada’s school curriculum thwarted

Dr. Neville Hewage yesterday said that the Ontario Superior Court of Justice, the Ontario Court of Appeal and the Supreme Court of Canada had determined that alleged Tamil genocide hadn’t taken place in Sri Lanka.
The academic, who successfully moved the Canadian courts, said that, therefore, the much-touted Tamil Genocide Education Week Act (TGEWA), in terms of the ruling given by the Ontario Court of Appeal and confirmed by the Supreme Court of Canada, is not within provincial Jurisdiction Education under Canada’s Constitution. Dr. Hewage said so in response to The Island query.
Declaring that the Canadian ruling was a huge victory for Sri Lanka, constantly harassed by various interested parties over unsubstantiated war crimes allegations, Dr. Hewage emphasised that alleged Tamil genocide couldn’t be in the school curriculum.
The Canadian parliament in May 2022 declared May 18 as Tamil Genocide Remembrance Day, thereby recognising the massacre of Tamils during the last phase of the war.
Responding to another query, Dr. Hewage valued the legal action at approximately $350,000 while denying any backing from the Sri Lankan government. “I haven’t received any funding from the government,” Dr. Hewage said, appreciating the backing provided by the Canadian legal team.
Adjunct Professor of the Law and Justice Department Laurentian University. Sudbury, Ontario, Canada Hewage said: “I did my own legal work which cost me only time and the expenses for filing.”
Dr. Hewage dismissed attempts made by the pro-LTTE lobby to propagate the lie that the Supreme Court of Canada had dismissed the challenge to Bill 104 aka TGEWA, thereby allowing education and commemorative events/efforts.
Asked to explain, Dr. Hewage pointed out that although the Ontario Superior Court of justice, the Ontario Court of Appeal and the Supreme Court of Canada had determined that Tamil genocide did not take place in Sri Lanka, the Ontario Superior Court of Justice had ruled that TGEWA is valid under the Constitution Act, 1867, s 93 Education. Recalling that the first application had been filed against the Attorney General of Ontario on June 06, 2021, Dr. Hewage said that he had moved the Ontario Court of Appeal on July 22, 2022 and that court ruled that the TGEWA was not in line with the relevant Act.
The Appeal Court had concluded that TGEWA was not within the provincial jurisdiction as outlined in the Constitution Act, 1867, s. 93 Education, Dr. Hewage said.
The bottom line was that Tamil genocide couldn’t be included in their school curriculum, Dr. Hewage said. The Canadian verdict couldn’t have come at a better time for Sri Lanka, troubled by UK sanctions on Admiral of the Fleet Wasantha Karannagoda, retired Generals, Shavendra Silva and Jagath Jayasuriya as well as one-time LTTE Ampara-Batticaloa commander Vinayagamoorthy Muralitharan alias Karuna over war crimes allegations.
Dr. Hewage said that he had appealed to the Supreme Court on Nov 11, 2024 as he feared that the Ontario Court of Appeal could be reversed in case some other pro-LTTE party moved court and may declare plausible Tamil genocide. The academic stressed that throughout their campaign, the Sri Lankan government had not extended any help.
At the time, Dr. Hewage initiated the legal process Gotabaya Rajapaksa was the President. By the time Dr. Hewage appealed to the Supreme Court of Canada, the National People’s Power (NPP) had gained power.
The development with regard to TGEWA has taken place in the wake of Jaffna-born Gary Anandasangaree receiving appointment as Justice Minister and Attorney-General of Canada and Crown-Indigenous Relations and Northern Affairs Minister. He has been campaigning against alleged war crimes in Sri Lanka.
Dr. Hewage said that some media and other interested parties had been working overtime to deceive the people by misinterpreting the Canadian Supreme Court decision.
The Supreme Court had confirmed the Ontario Court of Appeal’s decision, and no further inquiries were required, Dr. Hewage said, adding that the pro-LTTE lobby was quite upset as both the Superior Court of Justice and the Appeal Court of Ontario had determined that Tamil genocide did not take place in Sri Lanka. “Therefore, the Supreme Court of Canada will not further inquire into the Tamil genocide claim and as such the Appeal court decision will stand,” Dr. Hewage said.
by Shamindra Ferdinando
News
UK sanctions on former military top brass biased, unjustifiable: Ex-PM

Former Prime Minister and leader of the Mahajana Eksath Peramuna (MEP) Dinesh Gunawardena has alleged that the UK sanctioning retired top brass and ex-LTTE commander is biased, unjustifiable and a blatant interference in an internal affair of Sri Lanka.
The following is the text of statement issued by former parliamentarian Gunawardena: “The United Kingdom Government recently imposed sanctions on former head of the Sri Lankan Armed Forces Shavendra Silva, former Navy Commander Wasantha Karannagoda, former Commander of the Sri Lankan Army Jagath Jayasuriya and Vinayagamoorthy Muralitharan alias Karuna Amman.
The imposition of sanctions on three former commanders of Sri Lankan armed forces over alleged human rights violations during the conflict between the terrorist outfit Liberation Tigers of Tamil Eelam (LTTE) and the armed forces by the UK is biased, unjustifiable action and a blatant interference on an internal affair of Sri Lanka.
It is most regrettable that the UK thought it fit to impose sanctions that are not based on any transparent investigation or legal proceedings. Instead, they reflect the selective application of international pressure on Sri Lanka, targeting those who played key roles in Sri Lanka’s military victory against the most ruthless terrorist organization, which is banned by many countries, including the UK.
I wish to reiterate that the people of Sri Lanka have the highest respect for the sacrifices made by the military and the Commanders of armed forces and they would always stand by them against any unjustified attempts of prosecution or slander as their valiant fight against terrorists have ensured long-lasting peace in Sri Lanka.
We urge the United Kingdom to withdraw the one-sided sanctions in the interest of our long-standing bilateral relations and norms.”
News
Modi’s visit: TN poaching issue on the agenda

Indian Foreign Secretary Vikram Misri has said that the arrest of Indian fishermen by the Sri Lankan Navy would be taken up at the forthcoming Indian Premier Narendra Modi’s visit to Colombo.Responding to a query posed at a special media briefing held in New Delhi on March 28 on Modi’s visits to Thailand and Sri Lanka in the first week of April, Misri said: We have throughout been in very close contact with Sri Lankan authorities at all levels and in practically every meeting with Sri Lanka, this issue is taken up very, very forcefully by our side. And our central message has always been that these are issues that should really be seen from the humanitarian and the livelihood concerns lens.”
Misri said: “On the fishermen’s issue, this is something that is a long-standing issue. It is also something whose origin lies in certain arrangements that were arrived at many years ago, in the mid-70s when the international maritime boundary line between India and Sri Lanka was agreed by the then authorities, both at the central and the state level. And, there were formal agreements that were signed with regard to respective rights in this particular area.
Since then, of course, on grounds of alleged crossing of this line by fishermen from our side, there are arrests on the Sri Lankan side and then a process has to be gone through.
We have throughout been in very close contact with Sri Lankan authorities at all levels and in practically every meeting with Sri Lanka, this issue is taken up very, very forcefully by our side. And our central message has always been that these are issues that should really be seen from the humanitarian and the livelihood concerns lens.
There are agreements that have been arrived at from time to time between Indian and Sri Lankan authorities on how to handle this issue. There is a formal mechanism as well of a joint working group on fisheries between the two sides. I think the most recent meeting was held in October last year. There is also a mechanism for fishermen’s associations from the two sides to work.
Our effort is to continue to resolve these issues, find mutual agreement on these issues. Of course, our Mission in Colombo and our Consulate in Jaffna remain very closely involved with these issues. Anytime there are people who are affected, we extend legal as well as other kinds of assistance to them. Sometimes there is medical assistance that is required. We also facilitate the repatriation as early as possible of released fishermen from Sri Lanka to India.
One other thing that we have always focused on with regard to this issue in our discussions with Sri Lanka is the need to avoid the use of force under all circumstances. Therefore, we feel that both sides understand the need to continue our ongoing dialogue, our constructive engagement to eventually achieve long lasting and mutually acceptable solutions to the issue. I have no doubt that the Prime Minister will raise issues related to the welfare of our fishermen during his meeting with the Sri Lankan President.”
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